Catalyst Funds Management Pty Ltd Acquires 37,900 Shares of TechnipFMC plc (NYSE:FTI)

Catalyst Funds Management Pty Ltd raised its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 1,353.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,700 shares of the oil and gas company's stock after purchasing an additional 37,900 shares during the period. Catalyst Funds Management Pty Ltd's holdings in TechnipFMC were worth $1,178,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FTI. Assetmark Inc. acquired a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $265,000. Sigma Planning Corp boosted its stake in TechnipFMC by 32.6% in the 3rd quarter. Sigma Planning Corp now owns 11,164 shares of the oil and gas company's stock valued at $293,000 after buying an additional 2,743 shares in the last quarter. Versor Investments LP acquired a new stake in TechnipFMC in the 3rd quarter valued at $304,000. Entropy Technologies LP acquired a new stake in TechnipFMC in the 3rd quarter valued at $575,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in TechnipFMC by 971.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock valued at $10,692,000 after buying an additional 369,594 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Up 2.5 %

Shares of FTI stock traded up $0.69 on Wednesday, hitting $28.80. 5,602,747 shares of the stock were exchanged, compared to its average volume of 3,724,668. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $12.11 billion, a P/E ratio of 18.95 and a beta of 1.54. The business has a 50-day moving average of $29.92 and a 200 day moving average of $28.63. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45.

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TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. TechnipFMC's dividend payout ratio is currently 10.42%.

Analyst Ratings Changes

Several brokerages have issued reports on FTI. The Goldman Sachs Group began coverage on TechnipFMC in a research report on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective for the company. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and boosted their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Barclays upped their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Evercore ISI upped their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Finally, Piper Sandler upped their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, TechnipFMC has a consensus rating of "Buy" and a consensus price target of $36.31.

Insider Buying and Selling

In related news, CAO David Light sold 10,147 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.